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out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time for christmas but his condition worsened, he is alert and talking to hospital staff. >>> there is a bright spot for the economy, new homes selling at fastest past in more than 2 1/2 years. strongest showing since
. >> president is optimistic but if deal can't be reached this weekend he will tell senate leader reid tiny introduce a fall back bill. >> bill on the floor that make sure that taxes on middle class family don't go up. that unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion dollar drop in the nation gross domestic product. that's the value of all the goods and services produced. for california it means defense spending would be cut by half billion dollars. 12,000 children from low income family would look the access to head start programs, 2,000 fewer women not given screening for breast cervical cancer. domestic violence people would lose services. 8,
of workers will do to the real estate market. barbara reid foster has been selling property hear for 34 years at golden hill broker. she points out that many chevron workers moved here from lower cost areas and may not be homeowner homeowners. >> ended up renting homes instead of purchasing them. so it has a broad spectrum. it's vacancy on rentals. or vacancy on homes but we have waiting list for rentals. and homes have multiple offers so i don't think we are going to have any issues. >> although it appears the transfer of the 800 job to texas is the end, they hope to the meet with company officials soon they hope they can prevent this from happening again. this is abc 7 news. >>> more to bring enthusiastic friday coming up big parcel of land in the bay area is declared off limits to developers forever. we show where you come up. >> plus it is a very merry christmas indeed for local zoo. incredibly generous donation with no strings attached. >> school principal at team of big smile on boy's nasty smachlts wonderful story. owner of oakland a's makes a promise to the team fans. we
downs. reid brings this back 69 yards. mustang also sacked car 7 times. smu wins with authority 43-10. another cooped of bowling going on yesterday in alameda where warrior guard jenkins hosted first holiday bowling event. middle school students are all involved with the
senate majority leader reid said he doesn't see any way that they can cut a deal in time. if you think this is just politics and it won't affect you. mark calculates just how much the fiscal cliff could cost you. >>reporter: if congress fails to avoid the fiscal cliff the financial consequences are significant. now there's a computer program that will figure specifically what each of us can expect next year. tax policy center fiscal cliff calculator peck your category married single with or without children enter the income and press to, it will pop up but you have to cough up next year. >> 17,000 dollars higher. that's a lot. >>reporter: jason is an engineer from cupertino with wife and 3 kid. he's looking at extra 17,000 in change. renee of carson just calculated what her family will pay. >> my god. that's another additional, i mean, deduction. >>reporter: 4 dollars short of 3000 dollars. >> i know. i know. >>reporter: she says it's like losing a month salary for her or her husband. pretty significant reduction. >> oh, yes. yes. it's a big one. >>reporter: here's other qu
Search Results 0 to 4 of about 5